Taxation Laws Amendment (Measures for Future Bills) Bill 2023: Multinational Tax Transparency – Tax Changes

We commend the Australian government’s commitment to the Organisation for Economic Cooperation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) project and the introduction of the Country-by-Country Reporting (CbCR) requirements set out in BEPS Action Item 13. Greater transparency of financial and taxation information is needed to ensure multinational enterprises (MNEs) pay a fair share of tax relative to their activity in Australia, thereby providing a more level playing field for Australian businesses.